The following is a definition that describes a type of investment that has grown tremendously in recent years: "A diversified set of passively managed stocks, bonds or other securities that is most often structured to act like an index mutual fund but typically charges lower fees and is traded at varying prices throughout the trading day (like individual stocks)." Which of the following investments is being described?

Group of answer choices

Life cycle fund

Value fund

Exchange traded fund

Annuity fund

Target date fund